British state-owned Royal Bank of Scotland is to close 259 branches and cut 680 jobs as it reduces costs and encourages customers to use online and mobile services. As Ciara Lee reports, the move comes a day after the bank closed its 'bad bank' set up to sell off unwanted assets.

British Prime Minister Theresa May said that branch closures announced by the Royal Bank of Scotland were a commercial matter for the bank, after she was asked to intervene to halt the closures. Scottish National Party leader at Westminster Ian Blackford asked May to tell RBS Chief Executive Ross McEwan not to carry through his plan to close 259 branches of the RBS and NatWest. "The decision to open and close branches is a commercial decision taken by the banks without intervention from the government," May said in parliament on Wednesday.

Royal Bank of Scotland Group Plc is likely to leave its bonus pool little changed this year, according to people with knowledge of the matter, ending a spate of annual declines in payouts dating back to ...

(Reuters) - UK-based investment manager M&G Investments named Oliver Wilson as head of asset based lending in the company's direct lending team. Wilson, who will be based in London, joins from Royal Bank ...

Britain's smaller banks are lining up to apply for multi-million pound grants the government hopes will help them compete in the corporate banking market. For years the government has wanted to reduce the dominance of big banks in the small-to medium-sized business (SME) banking sector.

LONDON (Reuters) - Britain's financial watchdog on Friday rebutted reports that the threat of legal action from the Royal Bank of Scotland caused it to avoid publishing a confidential report into the bank's ...

Royal Bank of Scotland's chances of reaching a deal this year with the U.S. Department of Justice over its mis-selling of toxic mortgage-backed securities are "diminishing", its chief executive said in a Bloomberg TV interview. Ross McEwan had said several times this year he expected to reach a settlement in 2017, a key step in allowing the bank to return to full-year profit in 2018. "There are diminishing chances we settle in the year," McEwan said in the interview.

Royal Bank of Scotland's (RBS.L) chances of reaching a deal this year with the U.S. Department of Justice over its mis-selling of toxic mortgage-backed securities are "diminishing", its chief executive said in a Bloomberg TV interview. Ross McEwan had said several times this year he expected to reach a settlement in 2017, a key step in allowing the bank to return to full-year profit in 2018. "There are diminishing chances we settle in the year," McEwan said in the interview.

Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan said the U.K.’s breakthrough in Brexit negotiations would not alter their plans to establish an alternative trading hub inside the European ...

Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan said the bank has a reduced chance of reaching an agreement with the U.S. Department of Justice over its mortgage bond probe this year, ...

The Bank of England considered raising banks' capital requirements last week by more than it had previously signalled to tackle risks to the financial system including those from Brexit, the BoE said on Tuesday. Britain's banks have had to triple the capital they hold as a cushion against potential losses since the 2007-09 financial crisis which plunged the country into a recession, and the BoE is keen to ensure they are well-protected against future risks. Last week the BoE increased British banks' counter-cyclical capital buffer to 1 percent from 0.5 percent.

Scottish lawmakers will debate a motion calling for Royal Bank of Scotland (RBS.L) to halt planned cuts to its branch network, which opponents say will damage the remote communities they are meant to serve. The Edinburgh-based bank, which has been owned by the British government since being rescued during the 2008 global financial crisis, plans to close a quarter, or 259, of its branches in the United Kingdom. The Scottish parliamentary motion, which looks likely to garner wide support, aims to acknowledge "concern about a lack of support for small businesses, people in rural areas and the elderly," according to a transcript filed by Scottish Labour, the third-biggest party in the Scottish assembly.

Categories: Europe Stock Alerts Yahoo FinanceGet full CapitalCube analysis *Disclaimer : This is as of previous day’s closing price. Technical Indicators Below is a quick look at 5 technical indicators for Royal Bank of Scotland Group Plc. More studies are available on the Technical Chart. Indicator Signal Closing Price above/below 50 Day Moving Average Bearish Closing Price above/below 200 Day ... Read more
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British state-owned Royal Bank of Scotland (RBS) (RBS.L) said on Friday it will close around a quarter of its branches and cut 680 jobs as it cuts costs and encourages customers to use digital services, drawing criticism from lawmakers. The latest round of 259 branch closures by the Edinburgh-based bank follow 180 announced in March, putting 1,000 jobs at risk, and a similar move by Lloyds Banking Group (LLOY.L) which said on Wednesday it would close 49 branches. The RBS cuts mean British banks are set to close more than 1,000 branches this year, a record according to a Reuters analysis of previous announcements and academic studies.

British state-owned Royal Bank of Scotland (RBS) said on Friday it will close around a quarter of its branches and cut 680 jobs as it cuts costs and encourages customers to use digital services, drawing criticism from lawmakers. The latest round of 259 branch closures by the Edinburgh-based bank follow 180 announced in March, putting 1,000 jobs at risk, and a similar move by Lloyds Banking Group which said on Wednesday it would close 49 branches. The RBS cuts mean British banks are set to close more than 1,000 branches this year, a record according to a Reuters analysis of previous announcements and academic studies.

The Royal Bank of Scotland Group PLC on Friday said it was cutting 680 jobs, as more customers are turning to online banking. After a review, the bank said it will close 62 Royal Bank of Scotland branches ...

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Royal Bank of Scotland has closed the "bad bank" it set up to sell large chunks of its unwanted assets nearly a decade after RBS was rescued in a 45-billion-pound bailout by the British government. The closure of its Capital Resolution division is a milestone on RBS's road to recovery. Its balance sheet is around 1.5 trillion pounds lighter than when it began selling off assets in 2008.

Britain's banks all avoided bills for more capital in annual stress tests for the first time since 2014, but the Bank of England warned of pain ahead if there is no Brexit deal and said the country's current account deficit posed a big risk. High-street banks could cope with a "disorderly" Brexit without curbing lending or being bailed out by taxpayers, the BoE said on Tuesday after its annual health check on lenders. Britain's other main lenders - HSBC, Lloyds Banking Group, Santander UK, Standard Chartered and the Nationwide Building Society - all passed.

Britain's banks may be overstating their ability to stop "fintech" firms stealing customers and eating into profits, the Bank of England (BoE) said on Tuesday. The BoE was publishing the results of its 2017 stress test of seven major banks: HSBC, Barclays, Lloyds, RBS, Santander UK, Standard Chartered and Nationwide. For the first time, it included an "exploratory" scenario on how lenders would cope with a seven-year downturn and competition from financial technology - or fintech - firms.

Britain's banks may be overstating their ability to stop "fintech" firms stealing customers and eating into profits, the Bank of England (BoE) said on Tuesday. The BoE was publishing the results of its 2017 stress test of seven major banks: HSBC, Barclays, Lloyds, RBS, Santander UK, Standard Chartered and Nationwide.